Skip to main content

About this Show

The Daily Rundown

News/Business. NBC's Chief White House correspondent Chuck Todd discusses the day's top political stories. New.




San Francisco, CA, USA

Comcast Cable

Channel v787






Us 7, Detroit 5, Washington 4, Geico 3, Ukraine 3, Ryan 2, Angie 2, Clinton 2, Bill Clinton 2, Ross Perot 2, The City 2, Russia 2, America 2, Nbc 2, Duracell 2, Obama 2, Yankees 1, Roc Retinol Correxion 1, Fittest 1, Milk-bone 1,
Borrow a DVD
of this show
  MSNBC    The Daily Rundown    News/Business. NBC's Chief White House correspondent  
   Chuck Todd discusses the day's top political stories. New.  

    December 4, 2013
    6:00 - 7:01am PST  

>> calm down about ellsbury. >> come on. >> seriously. calm down. >> save that monstat. >> less than 50 million people, columbia has the fourth bet soccer team. >> it's time for "morning joe," but chuck todd and special guest ron burgundy. >> what's wrong with him? as repeal and replace turned into replace and repeal after years of quotes and votes to undo the president's healing care law, they have to figure out what to do as the base meets a new reality. hillary clinton's shadow campaign marches on, why is bill clinton talking about one of his most famous campaign quotes from 1992. it's not it's the economy,
stupid. in ukraine it looks like a cold war up rising stuck in a debate over democracy. we will go live to kiev for the latest. good morning from washington. this is "the daily rundown." coming up, a deep dive into bit coin and how it could fit into the world's phi national future. this is a wild new currency gaining steam online. let's get to the first reads of the morning. you can call the last month and a half for the republican party. after losing the last two contests after the shut down in the midst of a battle in the party, republicans clearly have the political swlj it comes to health care. they are in a bit of a quandary. they believe healing care is a winning issue, they are not sure of the next move. the president will test out some of the themes of the upcoming state of the union address and will provide a window into where
he focuses energies over the next three years. this is the need for upward mobility. the president will explain how the health care law fits into his vision, echoing themes he returned to over and over in the last several years. >> our success has never been about survival of the fittest. it's about building a nation where we are all better off. >> this afternoon the president will speak at what aides call a youth summit on the health care law. republicans are abandoning the lexicon for years. that word is repeal. it is democrats who seem to be more eager to utter the r word. >> you have good ideas, bring them to me. let's go. but we are not repealing it as long as i'm president.
>> discard and repeal is a distinctly minority position. because most americans with the status quo ante is not a place to be. >> working within four or five months, people will be talking about something differently and no one will want to repeal this law. they want it to work. >> democrats are well aware that with all the problems with the health care roll out and the unpopularity of the law, voters prefer a candidate who wants to fix the law over someone who wants to repeal it. swing voters do and they are worried about losing the advantage to be the party of know. when pressed on what the alternative would look like, john boehner equivocated. >> when you look at obama care, you see a government-centered health care delivery system. that's not what the american people want.
the american people want to be able to pick their own type of health insurance and own doctor and they want to pick their own hospital. that's what a patient-centered health care system looks like. >> will that be up for a vote in 2014? >> will that be up for a vote in 2014? >> we'll see. >> the fact is there is not a bill being concocted. boehner and tom cole tried a save, arguing that republicans have put alternatives on the table. >> we have been putting ideas on the table and the president hasn't put very many ideas on the table. tom price is a physician has one. republican study has one. there is over 200 pieces of republican-respon republican-sponsored legislation out there. >> nothing passed because there is no unity about what the plan should look like. >> not like they are winning the
war. not trying to leave that impression. they haven't been losing it to republicans. former president clinton who memorably said president obama should honor the commitment he made that americans would be able to keep their existing health plans did his best to shrink whatever perceived distance that comment caused between himself and the president. >> is it because you are setting the way for mrs. clinton to run and second, are the problems with obama care limited to the website? >> the answer to the first question is no. first of all, i said nothing about this. not one word until the president himself spoke. i was trying to be supportive of it. i don't think you can find anybody in america who worked harder for reelection or supporting this bill or went out of his way to explain the bill to the american people more than i did. >> more democrats are trying to get on the same page and more
republicans will be forced to depend not on stumbles, but a message of their own and they lock like they are struggling on that front if they don't have stumbles to lean on. they are taking a page out of the playbook. tax senate democrats are going on cuts to providers. in one release mark pryor release said pryor's deciding vote for obama care cut from medicare including nearly 5.4 billion collectly from arkansas. it's a familiar line of attack that was litigated and litigated and litigated and discredited in the last election. >> when congressman ryan looked into the camera and attacked president obama's medicare savings as "the biggest coldest
power play," i didn't know whether to laugh or cry. that $716 billion is exactly to the dollar the same amount of medicare savings that he had in his own budget. >> that's always been a problem for republicans on this line of attack. house republicans tell us that they are not looking at the medicare attack line. they want to continue to highlight individual stories when it comes to health care. stories about canceled plans or higher costs. here's what we know they are not going to do. they are not going to walk away from the issue. it's too potent of an issue for the base and what they believe swing voter concerns are when it comes to how government managed this. you can tell the republican party without the stumbles now that the website is clearly working a lot better than it has been in a long time. they are looking for what to do next.
as both sides try to gain the upper hand, time is running out on another issue. that's a big budget deal. northers led by paul ryan and senator patty murray for democrats are supposed to get a deal done boy the end of next week. joining me now is congressman and assistant democratic leader james clyburn who is involved with this conference. good morning to you, sir. >> thank you so much for having me, chuck. >> tell me where we are. how close are we? are we going to see something on december 13th produced collectively that is supported by murray and ryan? >> i would say we are very, very close yet far away. we are close. >> why do you say you are far away. it sounds like you know what you
are negotiating over. is that what you are trying to say? >> that's right. we on the democratic side are very, very leery of putting together any kind of a budget deal that tends to rest too heavily on people who were on fixed incomes and we don't want to see a budget deal that will cost jobs and we want to see a deal that will include unemployment insurance because to get rid of that will cost 200,000 jobs. if you let that die, you want a budget deal that will do something about the sequester. we believed that that ought to be done away with. i think the republicans feel the same way. we are far apart because we cannot seem to find common ground on how to pay for all of this. we don't want to pay for it.
people are on fixed incomes and the republicans seem to want to do that. we want to find ways to close some of these loopholes and they don't want to do that. that's so far away. >> you agree on the out come and you want to buy down the sequester and this idea of raising the spending cap a little bit instead of it going down to 967 and perhaps getting up to 990. it seems like they are out there. you have this airline fee or tax. is that something that is pretty much agreed to by both sides? >> i wouldn't say it's agreed to. that's on the table. we are not going to agree to anything until everything is agreed to. that's the problem we get to these things. you agree to something and you look around. the goal post will get moved. we on the democratic side are
not going to agree to anything until everything is agreed to. >> let's look at a number. what are you looking for? is it about $30 billion in some sort of savings cuts or fees? i know that we talked about this airline fee. i think that would -- i don't know how much money that could produce in a year. i have seen $5 billion perhaps. spectrum is selling the airwaves issues. that could produce money. how much collectively are you looking for. 25 billion or 30 billion? taxes or fees? >> i don't know that we will arrive at a number. i was meeting with staff on this and none of us are comfortable with laying down a number. we would like to look at the various methods of securing pay
for us and they don't even agree on how much sales. the republicans are putting out a bigger number than we think would be available there. we are looking at the areas and put all of them on the table and go bit by bit. we would like to have a two-year pay down on that. i would like to see it permanent. i would like to see a growth rate. we need to do something about that in order to improve the attitudes that the health care providers will have when dealing with people on fixed incomes. all of that should be dealt with and until we decide which one of those we will deal with, we don't know how much money it will yield. >> so bottom line here, is there going to be -- on december 13th
you produce this blueprint to avoid a shut down on january 16th? >> i'm hopeful, but remember the magic date is january 15th. i wouldn't be surprised if we will not come together. >> really? congress will miss a deadline that is an important deadline? i'm shocked. >> what use that is for us. >> congressman jim clyburn, democrat and number three in the leadership. thank you, sir. we have more of this morning's first read coming up. is the american dream a thing of the past. they warn both parties between the have and the have nots pushed this country to a tipping point. the unintended consequences and speaking of that, there is detroit bankruptcy the first? what this means for mayors and governors. the look ahead at the politics
planner and they told you about the busy schedule today for the president. you know what we have going on here in the world of nbc. the mother ship. the country's arguably most famous christmas tree gets lit up today in rockefeller center. see you there. turn to roc® retinol correxion®. one week, fine lines appear to fade. one month, deep wrinkles look smoother. after one year, skin looks ageless. high performance skincare™ only from roc®. take skincare to the next level with new roc® multi correxion® 5 in 1, proven to hydrate dryness, illuminate dullness, lift sagging, diminish the look of dark spots, and smooth the appearance of wrinkles. high performance skincare™ only from roc®.
>> per in a speech later today, president obama will focus on income and equality between the haves and have nots. one he used over and over to
rally supporters and beat up the gop. >> this kind of gaping inequality gives lie to the promise at the very heart of america. this is a place where you can make it if you try. what drags down the entire economy is when there is an ever widening chasm between us and everyone else. it's not just morally wrong, it's bad economics. >> the president has been on this issue for quite sometime. he just hasn't had any success in dealing with it as a governing entity. here's what he's talking about. up until the 80s, this rose at the same rate. the gdp kept growing while incomes levelled off. the annual median income is the same as it was in 1989. over that same period, the rich
earned a bigger and bigger chunk of money out there. the top 10% wealthiest have half the country's income. the other half goes to the bottom 90%. combine that with two political facts. one, president obama is at or near all time lows in popularities. he would be a drag on his own party if elections were held. the gop's party hit bottom. an r next to your name in swing areas is also a drag as far as voters are concerned. 2014 may not be as predictable as everyone is making it out to be and why it's critical for politicians to be on the right side of this message. buffalo springfield said there is something happening out here and what it is ain't exactly clear. an adviser tried to spell this out in a memo that can be seen in an open letter to washington in the establishment of both parties.
they argue that the growing gap is pushing the country to a tipping point. underneath this turmoil, you can see the shape of a populous movement that will in time move the politicians to action or throw them out of office. the country is moving towards new leaders who will be problem solvers and build institutions capable of making a difference. joining me now is steven king, a veteran of campaigns and cofounder of purple strategies and sarah fagan. the director for and a cnbc contributor. >> and she is wearing purple. >> he's wearing red. this is all -- i want to start with you. there was other compelling lines when he was talking about the rise of the movement. it's why rand paul and elizabeth warren had much more in common
on economics than some numbers in their own parties. >> it is. they had more in common on economics and you see kristin jill brand and ted cruise to take on top military brass. we are talking about a major contender in 2016 on a platform that it's okay for rand to get the weapon. that would have been unheard of in the republican party four or eight years ago. >> it still might be. >> he's not going to win. he's going to get a significant percentage of the vote most likely. >> this goes to the inward look. essentially there much of the country, but parts of the country that feel as if somebody has been unfair to them. whether it's big money or rich people have been unfair taking middle class jobs, that has been the left argument or the right said government picks winners and losers.
they have been unfair to me. this is what i think both parties get, but they haven't figured out how 20 govern. >> they haven't. it's the people versus the powerful. pick your powerful as enemy. if you are a republican. >> the people versus the powerful. >> it's al gore all over again. this was such a bubbling issue. >> i don't think either party has quite mastered how to govern this way. the democratic party is closer to figuring it out. that's what the democratic party is all about. having the government help people and growing from the middle out. they believe we should grow from the top down. if the healthy make more money they will spend it and that will lift it up. i don't think it worked. most people will say it hasn't worked. >> to back up steve, politically that message worked. the president took this fact and drove it home and mitt romney said 47% and it cemented the
argument that the president was trying to make. as a fixer -- >> i think obama care hurt his ability to govern on this topic. to your point, you can't argue with the statistics. the facts are the facts and there is a growing inequality in this country. republicans need to come up with better solutions. new solutions. we still fall into the trap of talking about the flat tax and other economic theories 30 years ago. >> they only seemed to benefit those who have money. >> we need to step forward with new ideas and that will happen and be the rebirth of the republican party. >> what i have been trying to figure out, the potential divides and the republican party, we see the divide bigger because of the tea party movement. the democratic party if they are out of power will see the divide too.
why aren't we seeing a 30 party movement and running for the house and the senate? i think they are screaming for it. they don't like either party. >> a purple party. >> you ask a good question. the first is gerrymandering. it's impossible for a third party to qualify for the ballot and have a chance of winning. you are seeing democrats are vulnerable and primary challenges and they're going more to challenges from the right than they are in general elections. that's bad for the country. it drives the polarization of politics. >> if you saw them running, look what ross perot did in 1992. he was not the greatest messenger, but he was getting at the issue, the pressure that the middle class would be feeling going forward.
look where we are 20 years later. >> this country is right for an empty movement. it's hard to get on a ballot. >> look at the presidency. we foulke us too much on that. imagine how the senate could be shaken up. >> it could, but all movements need a leader. one person running in a state is not going to take on the movement. if the right person with the right network including wealthy and the right amount of personal money invested, he or she could shake-up presidential politics in this country. >> my guess is the next billionaire who tries to do this comes from technology. >> from bloomberg some. >>some comes from silicon valley. does not come from bloomberg or oil. the old ways of money. comes from the new money. >> probably so, but i think the approach you out lined is easier and more practical approach. five or six or ailt people are
running as independents and saying i'm not a democrat or a republican, i will be for the people. 100 years before ross perot with william jennings brian. the populous movement was all about let's have a federal income tax and regulate the banks and elect senator directly and not have them be appointed bite aristocrats. >> that has been my thesis of what the mid-terms will be about. that may end up status quo because of that. i wonder why there not third party candidates. >> it's a good question and neither party will win. it is which is the worst at making their case. >> who will commit suicide last? smart people to talk about that. the elusive doug. you know he is watching.
>> i did a lot of work with him. he's out there. >> home office somewhere. he knows we have been talking about him. thank you both. still to come, everything you wanted to know about bit coin. steve mcman. bill clinton brings back his i didn't inhale quote. one of the gems in today's data bank. who was the last democratic medical doctor to serve in the u.s. senate. i had a lot of republican doctors in the senate. who is the last democratic doctor? the first person to tweet the correct answer will get the on air shout out. people don't have to think about where their electricity comes from. they flip the switch-- and the light comes on. it's our job to make sure that it does. using natural gas this power plant can produce enough energy for about 600,000 homes. generating electricity that's cleaner and reliable, with fewer emissions--
it matters. ♪ life could be hectic. as a working mom of two young boys angie's list saves me a lot of time. after reading all the reviews i know i'm making the right choice. online or on the phone, we help you hire right the first time. with honest reviews on over 720 local services. keeping up with these two is more than a full time job, and i don't have time for unreliable companies. angie's list definitely saves me time and money. for over 18 years we've helped people take care of the things that matter most. join today. now covergirl trublend chas the perfect blend. for 99% of all women. new shades and a formula that blends in, won't build up for a flawless nude look. trublend from easy breezy beautiful covergirl.
♪ ♪ nothing says, "you're my #1 copilot," like a milk-bone biscuit. ♪ say it with milk-bone. big numbers today in thedalea run down data bank. a massive salary and a big tree.
attending a washington, d.c. fund-raiser put on by liz cheney's new super pac. she is challenging mike enzi. cheney's father will be the key note speaker here in d.c. the next number is negative one. newly minted democrat charlie crist is down a campaign manager in the bid for florida governor. he left abruptly one month into the official campaign. he simply wanted to move back to new york. he was the campaign manager for bill deblazio. 21 is the number of years passed since bill clinton made the remark about not inhaling and smoking pot. it came up in an interview this week that he did with fusion. take a listen. >> have you denied it? >> i never denied they used marijuana.
i told the truth. i thought it was funny. the only journalist who was there said i told the truth. everyone else had to cover that up because that's not the story they wanted to tell. >> he said he never tried to hide experimenting with marijuana and doesn't think legalizing pot would end violent in latin american countries. the next number is $153 million, the mind-boggling seven-year deal they inked for out fielder jacoby ellsbury. he's the third highest paid in major league history. more importantly it's a red sock going to a yankee. joining the johnny damon club. he ain't growing any beards with the yankees. we go to sparkling lights. the number is 45,000, the number of led lights adorning the
rockefeller center christmas tree. they sparkle in the tree lighting ceremony. coverage led by savannah guth skpree al roker who has a great looking beard these days. 8:00 p.m. eastern on nbc. $29.98 is what can will cost to you get your george w. bush reason to ornament with a cardinal painted by the president himself. this is about bit coin. this has been an obsession internally here at "the daily rundown" world headquarters. how a virtual currency keeps climbing in real value and can they do anything to regulate it. don't miss chris matthews's exclusive town hall style interview with the president tomorrow night at 7:00 p.m. right here on msnbc: is this the bacon and cheese diet?
this is the creamy chicken corn chowder. i mean, look at it. so indulgent. did i tell you i am on the... [ both ] chicken pot pie diet! me too! [ male announcer ] so indulgent,
you'll never believe they're light. 100-calorie progresso light soups.
has some very special power. ♪ [ toys chattering ] it's filled with new duracell quantum batteries. [ toy meows ] [ dog whines ] [ toy meows ] these red batteries are so powerful... that this year they'll power all the hasbro toys donated to toys for tots. want to help power some smiles? duracell. trusted everywhere.
. a deep dive into what has been a daily run down obsession. we are shareing it with you externally. is it the future of money or online fad? as recently as last month, the share into a bit coin admitted he was not sure what it was either. take a listen. >> virtual currenty or bit coins captured the imagination of some and struck fear among others and confused the heck out of the rest of us. ed -- including me. >> we will try to ease some of that confusion. why should you care? it could be worth a lot of money. as recently as august, you can buy a bit coin for $106.
the price is well over 1100. that's a 10-fold increase. some people believe it will go up. here's what we are talking about. it's a unit of virtual currency and the name of the online network to send that currency from one person to another. you can't touch or hold them, they exist online as a series of numbers. if you want one, there two ways to get them. you can earth buy them through online exchange or earn them by using the computer to help solve a network of complex calculation of issues that involve bit coin transactions. that process is called mining. once you have a bit coin, what do do you with it? use it to buy things from any merchant that accepts bit coins. there thousands that do offering everything from jewelry to electronics to things like drugs
and pornography. for those you need a bit coin ap. at least three politicians including a state representative accepted bit coins as donations in 2012. why is it any different from any other payment network? for one, it is its own currency. it can be butt or sold and it is a currency in and of itself. another unique quality, transaction roars are kept on a centralized computer. they are managed collectively by the computer network because there is no centralized third party like a bank or credit card company there is no fee or transaction limits. without a third party, there is no mediator. something goes wrong and bit coin promises users relative anonymity and makes transactions hard to trace. good for people who don't like the government looking over their shoulder and makes it
attractive to criminals and hackers. hackers managed to have measures and steal some $2 million worth of bit coins by attacking a processor in denmark and account site in australia. with us to talk about the pros and cons of this, a cnbc contributor and a bit of a skeptic when it comes to bit coins. at the press department, brian is the tech reporter for "the washington post." somewhat of a proponent or not a keptic. >> i'm more open minded. >> fair enough. how is it we should treat it as a currency? baseball cards are worth dollars. can you have a stock, a share of a stock. how is bit coin different or a commodity. why is it treated like a
commodity? >> you hit on something that is absolutely fundamental. people who use bit coins see a lot of value in it as a way to exchange it for real world goods and services. people use it to buy drugs. you can buy cars with bit coins. >> are people trying to hide and do this by keeping transactions secret? >> i wouldn't say that all transactions conducted are designed to be secret. a lot of people use them for different reasons. reason may be that they want to avoid the fees that are with the banks or other financial institutions. some are supposed to be conducted as a way to avoid scrutiny. >> that seems to be the real alert. that's why it's a little bit
like you are going this just seems like a way to do illegal things. >> the monetary theory structural problems with bit coin tong think of it as money. it's limited supply. not even the gold backed money as a limited supply. they want to see it grow. when i work at the treasury department, we have 130,000 employees. the job was to figure out what they are doing with your money. they need to see it and make sure they were counting for it and paying taxes on it and not sending it to charities financing terrorism. that is what governments do. they need to think about the macro economy and how much money should be in the economy? like governments and a lot of
skeptics and the proponents don't believe it. dollar held up pretty well. >> on bit coin, why do we need it? we have pay pal and different ways. i don't see how it speeds up electronic transactions. we have ways to do that and there plenty of shadowed countries around the world that you can do. why do we need bit coin? why do the thieves need it? >> looking at bit coin as a currency today, tony hit on something exactly right. there is a limited supply that means people are incentivized to hoard them and not spend them. when you get beyond the use as a currency and start thinking about it more as a platform, there a lot of potential applications like with the internet. no one would predict that they become a massive platform for
commerce. those applications evolved organically. the same with bit coin. >> the more we talk about it, i feel like bit coin is a commodity. >> basically it's no different than gold, silver, and platinum. >> the digital nature makes it easy to move around. it's alluring. you can do it with synthetic gold and references to gold and gold futures. you can do it as an investment. if people want to invest, i don't care about the bit coin more than the baseball cards or persian rugs or anything else. once you think of it as money, you run into the problems. the hoarding problem is a big problem. >> they are trying to figure out how to regulate it. congress is going to try to tackle this.
how are they going to do it? >> this is one of the interesting parts of the story. you would expect the government to clamp down on this, but as we saw in the hearing a few weeks ago, a lot of federal regulators beyond not really knowing what it is, once hay learned what it is, they are open to the idea. >> why? >> a lot of it has to do with once you integrate bit coin into the global economies and it's a known entity, it's easier to tax, for example, to regulate transactions and the treasury department said that financial institutions should be treated the same way as if they use bit coin as any other institution. >> that's no longer why people don't want to do that. >> and that defeats the purpose why people use bit coin.
>> if you know bad guys are using bit coin and not saying anything, if you know they are, you do want to look at it. >> that's the pro side of bringing it in. >> right. you find bad guys. >> i feel like we barely scratched the surface. thank you both very. much. eating up in the ukraine. we'll go live where demonstrators take to the streets. mushroom miso is the soup of the day. we'll be right back. ase or ulcerative colitis is a daily game of "what if's". what if my abdominal pain and cramps end our night before it even starts? what if i eat the wrong thing? what if? what if i suddenly have to go? what if? but what if the most important question is the one you're not asking? what if the underlying cause of your symptoms is damaging inflammation? for help getting the answers you need,
talk to your doctor and visit to connect with a patient advocate from abbvie for one-to-one support and education.
♪ [ male announcer ] laura's heart attack didn't come with a warning. today her doctor has her on a bayer aspirin regimen to help reduce the risk of another one. if you've had a heart attack, be sure to talk to your doctor before you begin an aspirin regimen.
yep. got all the cozies. [ grandma ] with new fedex one rate, i could fill a box and ship it for one flat rate. so i knit until it was full. you'd be crazy not to. is that nana? [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. we talked about this yesterday with senator richard luker. the ukraine issue. protesters are in the streets again trying to force the president out of office. the protest that had been going
on for several days intensified in the parliament's no confidence vote failed. demonstrators took control of the cabinet the administration's office. nbc news foreign correspondent a joins me. this is essentially a country that is divided about whether to join the european union or essentially align itself economically with russia. is that the best way to put it? >> reporter: absolutely. you know that's really what cuts to the core of the issue here for the protesters behind me. the way this country right now is divided is between those who are in the opposition to the president. they feel that this country's future needs to move westward, nees needs to move towards the european union and that is the
case they are making speaker after speaker here in independence square. as you mentioned, those opposition protesters have managed to take over some key government buildings. they have also managed to encamp themselves in the heart of kiev and try to use that to rally the rest of the country behind them. but this country is still very much divided. there are those who still support the president. and more importantly, feel that the interests of this country lie with their neighbor to the east, that is russia, a country that used to play a very important role here and for many critics actually dominated the political scene here for decades. chuck. >> ayman mohyeldin who's going to be on the scene for us in kiev as this crisis in the ukraine continues and we'll check back in with you. thank you, sir. trivia time, the answer was ernest gruening. he took off when alaska became the 49th state. i believe he was ousted from office by a democrat named mike
ravel. congratulations to today's winner. send your trivia suggestions to and we'll be right back. people don't have to think about where their electricity comes from. they flip the switch-- and the light comes on. it's our job to make sure that it does. using natural gas this power plant can produce enough energy for about 600,000 homes. generating electricity that's cleaner and reliable, with fewer emissions-- it matters. ♪
my boyfriend has a lot of can't-miss moments. i checked out the windows phones and saw the lumia 1020 has 41 megapixels. so i can zoom way in even after i take the picture. and i can adjust the shot before i take it so i get it exactly how i want. so, i went with a windows phone.
maybe i just see things other people don't. ♪ honestly ♪ i wanna see you be brave ♪ now for my takeaway. a judge has griffiven the green light for the city of detroit to declare bankruptcy making it the largest municipality in american history to do so. this is the basis for my wednesday takeaway. the city is unable to pay $18.5 billion in debt, including $3.5 billion in unfunded pension obligations to two pension funds. what does this mean in real world? 23,000 retirees and 9,000 current public servants in detroit could lose some or perhaps all of their pension benefits. the benefit of public service is the retirement security in
exchange for taking a good but not great salary. that's always been the dole that we cut. losing more money in the private sector in order for security. thif can happen in detroit, is it a sign of what's to come in other cities and towns? since 2010, i want to show you here a little bit, i'll go through some things. since 2010 eight cities and towns have filed for bankruptcy. three have been dismissed. the remaining five cities an towns where governments have filed for bankruptcy are right next to me. detroit, san bernardino, stockton, california, jefferson county, alabama, and central falls, rhode island. this could be a problem not just for cities, state governments too. let me show you something here. according to the pew center, in 34 states pension funds cover less than 84% of the retirees' pension and health care obligations. illinois is in the worst shape with only 45% covered. they just tried to do something and pass something. a law is going to be signed by the governor there. bottom line, this is going to be the challenge for decades for
every mayor and governor that they're going to be facing here and it's going to be major fights between unions, nonunions, all sorts of things. that's it for this edition of "the daily rundown." we'll see you right back here tomorrow. chris jansing gets the baton. as a business owner, i'm constantly putting out fires. so i deserve a small business credit card with amazing rewards. with the spark cash card from capital one, i get 2% cash back on every purchase, every day. i break my back around here. finally someone's recognizing me with unlimited rewards! meetings start at 11, cindy. [ male announcer ] get the spark business card from capital one. choose 2% cash back or double miles on every purchase, every day. what's in your wallet? i need your timesheets, larry! you may be muddling through allergies. try zyrtec-d®. powerful relief of nasal congestion and other allergy symptoms -- all in one pill. zyrtec-d®. at the pharmacy counter.
[ camera shutter clicks ] now, that's cardworthy. [ man ] all right. here we go. ♪ cardworthy. [ camera shutter clicks ] cardworthy. [ beeping ] [ camera shutter clicks ] so not cardworthy. ♪ [ female announcer ] this holiday season, visit for all your cardworthy moments and save up to 50%. ♪ and save up to 50%. so you can see like right here i can just... you know, check my policy here, add a car, ah speak to customer service, check on a know, all with the ah, tap of my geico app. oh, that's so cool. well, i would disagree with you but, ah, that would make me a liar. no dude, you're on the jumbotron! whoa. ah...yeah, pretty much walked into that one. geico anywhere anytime. just a tap away on the geico app.
♪ ♪ i know they say you can't go home again ♪ ♪ ♪ i just had to come back one last time ♪ ♪ ♪ you leave home, you move on [ squeals ] ♪ and you do the best you can ♪ i got lost in this old world ♪ ♪ and forgot who i am
try align. it's the number one ge recommended probiotic that helps maintain digestive balance. ♪ stay in the groove with align. detroit's broke and now a judge has made bankrupty official but his decision is sending chills through unions and retirees because it sets a new precedent for cuts to worker pensions. we'll talk to the president of afsme. front page of "the daily news." the engineer of a deadly train crash said he was in a daze situation saying he went on an auto pilot kind of thing. was he liable or is this just a terrible accident? and republicans in the house held an entire hearing to check on the constitutionality of president obama's actions. and, yes, t